Integrated, top-down governance is fundamental to successful portfolio management, and a strong PMO can play an indispensable role in monitoring and facilitating investment selection and execution.
There is no secret formula to project success, but the infamous flop of The Coca-Cola Company’s 1985 introduction of the “new Coke” offers a timeless case study in misunderstanding the end-user. It’s a lesson that project managers, product development teams and portfolio directors should all keep in mind as they balance expectations, risks and strategic goals. [4:40]
Without a solid understanding of strategy at all levels of the organization, the portfolio is just a disconnected set of investments — not really a portfolio at all. By implementing and following a strategic road map, companies can link their investments to results and more fairly evaluate project contributions. Here are some guidelines and examples.
Many organizations don’t do a good job measuring the benefits of the projects within their portfolios, and many more fail to formally compare the realized benefits to the estimated benefits in the business case. The process of business realization management can help.
Gartner’s 2010 Magic Quadrant report surveys the state of PPM in a challenging economy, evaluating 31 technology providers, naming six “leaders” and identifying two important market trends.
To achieve meaningful portfolio management benefits, both application and project portfolios should be considered.
Investing in business improvements and a project portfolio management tool helped land development firm Abbey Road Group thrive despite the economic turmoil in real estate.
Organizations are always seeking greater transparency and accountability when it comes to their investments. An investment in a PPM solution to gain a unified view of all corporate projects is a good start. Here are five criteria to help organizations successfully implement and drive adoption of enterprisewide PPM.
As product development organizations with constrained resources aim to make the most of their product pipelines, they are turning to project portfolio management. And PPM vendors are taking note, adding specialized capabilities to their offerings.
Most PMOs are established to develop and implement common processes. Many oversee project management training as well. And lately, more PMOs are being called on to help implement formal portfolio management concepts. It makes sense.